Insurance General Business

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Florida's SIU Tool Belt Is a Bit Lighter Today

Florida has been plagued with insurance fraud for decades.  All insurance coverages are susceptible to fraud, but scams are especially prevalent in the context of automobile accidents.  Staged crashes, patient brokering,...more

Report: Insurance and structured finance - a new dawn?

A growing trend is emerging within the insurance sector, where insurers and other users of insurance products are looking to structured finance solutions both from an investment and risk management perspective....more

Federal Courts Refuse to Enforce Waiver of Subrogation Clauses in Certain Residential Situations

In two recent decisions, federal courts sitting in New Jersey and Pennsylvania refused to dismiss subrogation claims filed by the insurers of a homeowner and lessees of apartments who suffered damages paid by their carriers....more

Automatic exchange of information and insurance companies - a question of compliance

Automatic exchange of information (AEOI) regimes, primarily aimed at curbing tax avoidance through the use of foreign accounts and investment platforms, have recently become a global trend, starting with the adoption of the...more

Using Supplier Agreements as Patent Litigation Insurance

In a recent article written for Today’s General Counsel, patent attorney Wasif Qureshi discusses how customers can lessen risks when sued for patent infringement as a result of using technology obtained from a third party...more

China: CIRC Issues New Measures for Compliance Management of Insurance Companies

On 4 January 2017 the China Insurance Regulatory Commission (“CIRC“) published on its website the final version of the Measures on the Compliance Management of Insurance Companies (the “Compliance Measures“), which will...more

Court Upholds Attorney-Client Privilege In Reinsurance Dispute, Rejecting Assertion Of The Crime-Fraud Exception And Questions...

The case involves a dispute over Utica Mutual Insurance Company’s claims for reinsurance proceeds from Munich Re. One of Munich Re’s defenses in the litigation asserts that Utica “strategically orchestrated a settlement...more

When it Rains it Floods: California Rainstorms and Flood Insurance

Until very recently, the scarcity of water and the decline in oil prices in California prompted the joke that oil was being used as fracking fluid to get water out of the ground. In the last week, however, so much rain has...more

A Reprieve from the Deluge of Hail Litigation in Texas

In recent years, the number of Texas lawsuits arising from hail-damage claims to residential and commercial properties has reached staggering levels, leaving the courts in several Texas counties struggling to keep up with...more

Insurance Claims Report Spotlights Risks To Assisted Living Facility Operators

Late last year CNA, one of the nation’s largest commercial insurance companies, issued a report summarizing professional liability insurance claims for senior living facilities that it closed between 2011 and 2015. Although...more

Depreciation of Labor Costs Class Action: Nebraska Supreme Court Rules In Favor of Insurer

I’ve regularly followed on my blog key developments in the numerous class actions against the insurance industry involving the application of depreciation to the labor cost component of estimated replacement cost value in...more

DFS Final Cyber Regulation: Accountability at the Top

Over the last few months, the New York Department of Financial Services (“DFS”) cybersecurity regulation has undergone multiple revisions. But late last week, DFS issued its final regulation, which will go into effect on...more

Trump administration issues proposed health insurance market stabilization rule: Will it be enough to stabilize exchange...

On 15 February 2017, the Centers for Medicare & Medicaid Services (CMS) took a step toward addressing concerns about the stability of the individual and small group health insurance markets by proposing a modicum of...more

The U.S.-EU Covered Agreement: Different Assessments By Different Audiences

On January 13, 2017, the week before the inauguration of President Trump, the U.S. Department of Treasury and the Office of the U.S. Trade Representative announced that the negotiations between the full text of the agreement...more

Surplus Insurers, Too, Can Rely on the Application to Interpret Policy

Section 627.419 of the Florida Statutes provides that “[e]very insurance contract shall be construed according to the entirety of its terms and conditions as set forth in the policy and as amplified, extended, or modified by...more

Washington Weighs In On The Scope Of Insurance Regulators’ Authority

In January, we reported that California’s Supreme Court had embraced a problematic approach to the state’s Unfair Insurance Practices Act—one that allows the Commissioner of Insurance to create new statutory torts by...more

Insurance Industry Exploration of Blockchain Expands

The insurance industry’s exploration of blockchain-based solutions continues to expand, potentially impacting future policies available to commercial policyholders. The Blockchain Insurance Industry Initiative (B3i), an...more

Top 10 Things Corporate Attorneys Should Know About Insurance

Almost every corporate transaction — mergers, purchase and sales, real estate matters, among others — involves some “insurance” related issues. They can range from simple “insurance requirements” in the corporate documents to...more

Reserving Claims in Latin America

Determining reserve amounts can be a daunting task. The process can be affected by various obstructing factors. Here are a few items that may affect the determination and posting of reserves for Latin American losses. ...more

Real Property & Title Insurance Update: Week Ending February 10, 2017

REAL PROPERTY UPDATE - Foreclosure: where foreclosing bank, who purchased debt from original mortgagee, failed to establish standing to enforce lost note “through evidence of a valid assignment, proof of purchase of the...more

Good Advice for Everyone: Ten Steps to Avoid Big Trouble

On both a business and individual level, there are ten easy steps you can take now to avoid big trouble later. If you address just five of these items this month, you will be half way there. Originally published in the...more

Not so divine intervention

The elements of delict have been the subject of much repetition when it comes to examining the claims that land on insurer's doorsteps. To such a degree that I'm convinced that it is a requirement that you should be able to...more

Indiana Applies Heightened Summary Judgment Standard In Determining Vicarious Liability For An Employee Driving A Provided Company...

For an employee, the opportunity to drive a company vehicle is certainly a job perk. For an employer, however, issuing company vehicles comes with the risk that it may be held liable for any negligence of the employee arising...more

Arizona Court of Appeals Confirms “Subcontractor Exception” to “Your Work” Exclusion Does Not Apply to Additional Insured General...

In Double AA Builders, Ltd. v. Preferred Contractors Insurance Company, LLC, --- P.3d ----, 2016 WL 7508079, *1 (Ariz. Ct. App. Dec. 30, 2016), the Arizona Court of Appeals reversed the trial court’s grant of summary...more

Three Point Shot - February 2017

Ski Manufacturer Chills Bode Miller's Comeback - World champion skier and six-time Olympic medalist Samuel "Bode" Miller had his eye on coming out of retirement for the 2016-17 season before a contract dispute with his...more

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